OPERATING RESULT NEGATIVE AT € 41.9 MILLION, OF WHICH APPROXIMATELY € 36MILLION FROM IMPAIRMENT TEST ON NPL RELATING TO INVESTMENT ACTIVITIES(€ 6.1 MILLION AT SEPTEMBER 2011, POSITIVELY INFLUENCED BY A NUMBER OF SIGNIFICANTTRANSACTIONS)

NET LOSS OF € 171 MILLION (LOSS OF € 152.9 MILLION AT SEPTEMBER 2011), PARTLY THERESULT OF PROPERTY AND NPL PORTFOLIO WRITEDOWNS FOR MORE THAN € 100 MILLION

NEGATIVE NET FINANCIAL POSITION OF € 523.6 MILLION(€ 497.5 MILLION AT 30 JUNE 2012)

RESIGNATION OF CEO PAOLO MASSIMILIANO BOTTELLI

BOARD COOPTS SERGIO IASI AS NEW DIRECTOR

Milan, 13 November 2012 – At a meeting today, the Board of Directors of Prelios S.p.A. examinedand approved the Quarterly Report at 30 September 2012.